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Federated Media Publishing’s homepage declares that it is “built on conversational media,” and I won’t argue the point.  I’m sure that some prior rounds of funding helped, however, and a new one - FM just received $4.5 million - will probably also be of assistance.

“Return backers include . . . JPMorgan Partners and Omidyar Network,” reports peHUB’s Dan Primack.  Primack later continues, “It’s a bit unclear how much the company had raised previously (it won’t say), but our database indicates a $750,000 seed round in mid 2005 and at least $2 million in Series A funding last year.”

It’s also unclear what FM intends to use the fresh $4.5 million for - the company’s last press release was written on July 11th, and its blog is seven days behind the times.  With any luck, FM will at least manage not to create any more controversy; the “paid spokesblogging” back-and-forth didn’t really benefit anybody.

As for “[o]ther recent developments for ad networks,” Mashable’s Kristen Nicole lists “the funding of OpenAds, the launching of AdPerks, and FeedBurner’s self-publishing ads system.  Facebook, Magnify, Meebo and YouTube are some social networks that are in the process of tweaking and improving their own ad network options as well.”  It’s definitely been a busy couple of months in this market.